The Bangko Sentral ng Pilipinas (BSP) announced yesterday that of the New Generation Currency (NGC) Coin Series, it will release in advance of the other denominations, the 5-piso NGC legal tender coin for circulation, starting December 2017.
The 5-piso NGC coin features on the obverse, Gat. Andres Bonifacio. The BSP’s advance release of the 5-piso NGC coin highlights the 120th death anniversary of the Filipino patriot this year and his 154th birthday on November 30.
Widely regarded as one of the Philippines’ greatest heroes, Bonifacio was a fearless leader who founded the Katipunan, the secret society that ignited the flames of the revolution which finally led to the declaration of Philippine independence in 1898. Bonifacio died on 10 May 1897.
Thus, considered as the Father of the Philippine revolution, Bonifacio’s portrait is etched on the obverse of the coin, along with the markings, “ANDRES BONIFACIO”, “5-PISO” and “REPUBLIKA NG PILIPINAS” in bold font and in microprints, and the mint mark. The reverse side, meanwhile, features the Tayabak, a Philippine endemic plant that climbs tall forest trees, the BSP logo and “Bangko Sentral ng Pilipinas” in microprint. The 5-piso NGC coin is 25-millimeters in diameter and weighs approximately 7.4 grams.
The NGC Coin Series adopts the latest technology in minting coins. The security features of the NGC Coin Series are enhanced to deter counterfeiting, improve wear and corrosion resistance capabilities, saves the BSP minting costs, avoids risks arising from unexpected volatile swings in metal prices, and also deters the illegal hoarding of coins for melting and shipment to other countries.
Coins in the NGC Series will feature the BSP logo, national heroes and endemic flora, consistent with the design of the NGC Banknote Series, launched in 2010, which also highlights Philippine fauna.
The rest of the denominations of the NGC Coin Series will be released by the BSP for circulation in January 2018. – BSP